Alameda Research invests $4M in Vietnamese DeFi project

The DeFi marketplace continues to warm up, using Alameda Research identifying Southeast Asia because of potential growth hub.
Alameda Research has expanded its investment portfolio by allocating $4 million to Coin98 Finance, an up-and-coming decentralized fund platform from Vietnam, based on Chinese fintech outlet ChainNews.Coin98 Ventures, the venture capital company behind Coin98, supposedly serves the largest cryptocurrency fund in Vietnam and is also an integral backer of the Solana Ecosystem Fund, which recently increased $40 million in strategic investments from leading digital currency exchanges. Since ChainNews notes, Coin98 operates a decentralized exchange and wallet, with trade volumes about $20 million in March. The exchange boasts of approximately 200,000 users, mainly in Southeast Asia.Alameda Research is a quantitative investment firm that manages $100 billion in electronic assets. In addition, it works FTX, one of the largest derivatives exchanges in most crypto, with documented trade volumes of 11.3 billion as of Tuesday. Alameda is currently in the midst of a investment frenzy as the company seeks to expand its balance sheet and carve out a more powerful position within the cryptocurrency business. During exactly the same month, Alameda spent $20 million to Reef Finance, a Polkadot-based DeFi platform. The DeFi market achieved a significant milestone on Tuesday after dividing $100 billion in total value locked. Since Cointelegraph reported, the DeFi business’s TVL was $21 billion at the beginning of 2021.

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